The Coca-Cola Company (KO) reported earnings of 88 cents per share for the third quarter, up 9% from a year earlier.

Net revenue rose 5% to $8.4 billion in the quarter, boosted by a strong performance in the North American market, the company said in a statement. International volume also rose 6% in the quarter.

"We are very pleased with our third quarter performance," CEO Muhtar Kent said. "Together, in close alignment with our global bottling partners, we are executing with excellence around the world."

The company is "on track" to achieve its target of $500 million in annualized savings by the end of next year, the statement said.

The Coca-Cola Company plans to repurchase $2 billion of stock in the final quarter of 2010, the statement said.

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